By Majid Al Shabib
Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) shut Tuesday’s session in green, adding 0.74% to 7,293 points, backed by real estate and banks sectors.
Tuesday’s turnover amounted to SAR 5.7 billion – the biggest in a month – while traded volume reached 263 million shares exchanged in 111,000 transactions.
Liquidity was focused today on three sectors; banks and financial services (17%), petrochemical industries (14%), and insurance (11%).
The main index, or TASI, advanced in November, following a decline seen in the last three months. The index gained 1.62% or 115 points during the month to close at 7,239 points.
The market’s capitalisation increased by around SAR 30.58 billion to reach SAR 1659.5 billion at November-end, up from SAR 1628.97 billion at the end of October.
The monthly traded value reached SAR 150.96 billion – the biggest in six months – thus continuing the rise for the third straight month. A total of 5.3 billion shares were exchanged during the month in 2.13 million transactions.
Al Jazira Capital said in its report that technical outlook for Tadawul remains ‘negative’, saying the index failed to resume its upward trend.
The research firm noted that support levels stand at 6600 points and 5580 points, which may trigger attractive investment opportunities if reached.
As for sectors’ performance during November, ten moved up, while the other five moved down led by energy that slumped by 7.2%.
The banks sector continued a slide to the fourth successive month, ending 1.99% lower.
The cement sector rose by 2.44% to reverse a losing run seen in the last five months.
Meanwhile, the telecommunications sector continued its winning streak for the third successive month.
Translated by Sayed Abdel Rahman
